U.S. stocks on Friday marched higher, helped by a rebound in megacap technology names and more encouraging developments on the inflation front. A rotation out of heavyweights such as the “Magnificent 7” club weighed on the benchmark S&P 500 (SP500) and the Nasdaq Composite (COMP:IND) in the previous session, butContinue Reading
Wall Street on Friday notched a new intraday all-time high, while U.S. Treasurys rallied, as traders returned from a mid-week holiday to receive a nonfarm payrolls report that further supported the case for Federal Reserve interest rate cuts. Markets were shut on Thursday due to Independence Day. The benchmark S&PContinue Reading
Wall Street’s benchmark S&P 500 (SP500) gauge on Wednesday scaled a new intraday all-time high, after fresh economic data supported a scenario where the Federal Reserve would be able to start easing monetary policy. Traders will see a truncated session ahead of the Independence Day holiday, with equity and bondContinue Reading
U.S. stocks on Tuesday struggled for traction, as market participants digested some conflicting signals. Strong labor market data countered dovish comments on inflation from Federal Reserve chair Jerome Powell. Wall Street’s three major averages have seesawed in the second trading session of H2 2024. The tech-heavy Nasdaq Composite (COMP:IND) wasContinue Reading
fotofrog/E+ via Getty Images The Consumer Staples Select Sector SPDR Fund ETF (NYSEARCA:XLP), with 5.8% weightage on the S&P 500, bagged a gain of ~2% in Q2, compared to broader market (SP500) gains of ~4.6%. Consumer staple (XLP) was the fourth-best performer in Q2, only lagging behind technology (XLK), utilitiesContinue Reading
We are just two weeks away from the second quarter earnings season, and the lull phase of the first quarter reporting is slowly coming to an end. In the last week of June, eight S&P companies disclosed their earnings. Here is a quick glance at the financial results that wereContinue Reading
Communication Services Select Sector SPDR Fund ETF (NYSEARCA:XLC), which tracks S&P 500 Communication services sector, gained over 5% during the second quarter, outperforming the 4.6% rise in the broader S&P500 Index. The communication services sector, which consists of stocks including Alphabet (GOOG), Meta Platforms (META), Disney (DIS) and Comcast (CMCSA),Continue Reading
U.S. stocks on Friday powered to new intraday highs early in the final trading session of H1 2024, after a core measure of a key inflation gauge logged its lowest Y/Y increase in over three years. Shortly after the opening bell, the benchmark S&P 500 (SP500) notched its 32nd all-timeContinue Reading
Wall Street on Thursday continued to struggle for momentum, as a slide in Walgreens Boots Alliance (WBA) and Micron Technology (MU) capped gains. Meanwhile, U.S. Treasurys rebounded after a plethora of economic data lent support to a scenario where the Federal Reserve can start cutting interest rates. The benchmark S&PContinue Reading
The major U.S. averages on Wednesday seesawed, as stocks struggled for momentum. A post-earnings surge in global economic bellwether FedEx (FDX) was countered by a sell-off in Treasurys. The S&P (SP500) was last up 0.06% to 5,472.48 points in midday trade, while the blue-chip Dow (DJI) had added 0.11% toContinue Reading
